- Brookfield Renewable Partners (BEP-UN) has revealed a number of major management changes as the company focuses on new areas of growth
- Sachin Shah, CEO of Brookfield Renewable, will transition to a new role as Chief Investment Officer of Brookfield Asset Management
- He will be replaced by Connor Teskey, who previously acted as Brookfield Renewable’s Chief Investment Officer
- Mark Carney, who recently joined Brookfield Asset management, has also been named as Vice Chair of Brookfield Renewable
- Brookfield Renewable Partners (BEP.UN) is currently up 1.23 per cent and is trading at C$72.33 per share
Brookfield Renewable Partners (BEP-UN) has revealed a number of major management changes as the company focuses on new areas of growth.
The most significant of these changes is the transition of Sachin Shah, who acted as CEO of Brookfield Renewable, to the role of Chief Investment Officer at Brookfield Asset Management, the parent organisation of Brookfield Renewable.
While he will no longer be directly involved with the company, he will act as Vice Chair of Brookfield Renewable and will continue to manage Brookfield’s renewable power operations on behalf of the firm’s private funds.
Sachin will be replaced by Connor Teskey, who joined the Brookfield family in 2012 and most recently acted as Chief Investment Officer of Brookfield Renewable.
In this role, he played a significant part in developing the company as one of the world’s largest pure-play, publicly-traded renewable power businesses, with a market capitalisation of more than C$22.8 billion.
Finally, Mark Carney, who recently joined Brookfield Asset Management as Vice Chair and Global Head of ESG and Impact Investing, has been appointed as Vice Chair of Brookfield Renewable.
The company noted in today’s release that all of these changes are to bee effective immediately.
Bruce Flatt, CEO of Brookfield Asset Management, said the management changes come ahead of a new stage of growth for Brookfield Renewable, which is facilitated by a rapidly expanding global renewable energy market.
“With Brookfield Renewable now one of the largest renewable electricity generators and developers in the world, we continue to plan for new areas of growth.
“These appointments will help us move to the next phase of expansion, helping governments and corporations meet their renewable power and energy transition targets and driving decarbonisation initiatives around the world,” he added.
Brookfield Renewable Partners (BEP.UN) is currently up 1.23 per cent and is trading at C$72.33 per share at 10:26am EDT.
